The managing director will vacate his role and pay a multimillion-dollar penalty after a major probe concluded he had used company resources for personal gain.
The board will detail how it intends to handle an alleged tax evasion scheme involving founder Chris Ellison,as $2.4 billion is shaved off the company’s value.
Xi Jinping’s major fiscal stimulus package,which could have capitalised on the big bounce in the sharemarket,has so far failed to materialise.
Macarthur Minerals has received the second of three $250,000 payments from selling the rights to mine and develop its WA Lake Giles Ularring iron ore play.
Australia’s richest person Gina Rinehart has used the approval of her latest iron ore project to launch another blistering tirade in her war against “government tape”,warning it could stymie investment and compromise living standards.
If the iron ore price is a barometer of the health of China’s economy,then it is signalling a level of weakness that ought to galvanise China’s policymakers.
A month after shedding 700 workers,Fortescue has posted an annual profit of $8.4 billion supporting a $2.2 billion payout to the miner’s biggest shareholders Andrew and Nicola Forrest.
The Australian mining giant is bracing for a slowdown in Chinese appetite for Australia’s most lucrative export,iron ore.
In a highly volatile environment,BHP has shown there is nothing wrong with being boring.
President Xi Jinping’s push to end reliance on property-led growth has profound implications for the steel industry and is sending out global shockwaves.
The treasurer’s visit would be the first such trip in seven years,before relations soured and Beijing placed Australia in the diplomatic deep freezer.